The retail industry is booming like never before despite the turmoil caused by the COVID-19 pandemic. In fact, the National Retail Federation estimated that retail sales exceeded $4.44 trillion in 2021.
In 2022, global retail sales are expected to reach $26.69 trillion. According to Score, small retail businesses, which account for 98.6% of all retailer firms in the US, have an average gross margin of 51% and reported monthly revenue of $22,341.
If you’re considering starting a retail business in 2022, you have every chance of succeeding as the industry evolves and as more and more people shop at physical retail stores. And the boom in eCommerce aside, nearly 80% of shoppers still go to the store to buy an item they need.
If you’re already a retail business owner, chances are one goal of 2022 is to grow your business and improve your revenue. At KORONA POS, we have compiled ten must-read blog posts of 2021 that can help you run and grow your retail business. From inventory management to retail marketing strategies, find the most important blogs you need to read to transform your business in this guide.